Which of the following is not an example of price discrimination?
a. A movie theater charges a lower price for a child's ticket than for an adult's ticket.
b. A university rebates part of the cost of tuition in the form of financial aid for needy students.
c. A local pizza chain offers a "buy three get one free" deal.
d. An ice cream parlor charges a higher price for ice cream than for sherbet.
d
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If your income goes up by 2% and, in response, the quantity demanded of good x rises by 3%, good x can be considered
a. An inferior good b. A normal good c. A public good d. A private good
Analysis of the economic status of poor people reveals that
a. most are poor because they did not have the opportunity to obtain training and a quality education. b. most had poor parents, grandparents, and great-grandparents, suggesting that poverty is inherited. c. the poverty population is very homogeneous regarding opportunity, cultural disadvantages, alcoholism, and other personal contributing factors. d. poverty is a complex issue; the poor are a heterogeneous population, and the causes of poverty are multidimensional.
What will happen in the market for shotgun-shell ammunition now if buyers expect higher shotgun-shell prices in the near future?
a. The demand for shotgun-shell ammunition will increase. b. The demand for shotgun-shell ammunition will decrease. c. The demand for shotgun-shell ammunition will be unaffected. d. The supply of shotgun-shell ammunition will increase.
In terms of their economic effects, which of the following policies toward pollution are most similar to one another?
a. regulation and corrective taxes b. regulation and tradable pollution permits c. corrective taxes and tradable pollution permits d. All of these policies produce the same economic effects.